Ahmedabad: Abu Dhabi Investment Authority (ADIA) on Sunday announced it has signed definitive agreements to invest USD 200 million (approximately Rs 1,723 crore) in Gujarat-based medical devices manufacturer Meril, acquiring close to a 3% stake. The transaction values Meril at $6.6 billion (around Rs 56,859 crore). The deal awaits regulatory approval from the Competition Commission of India (CCI).
The investment marks ADIA’s latest play in India’s expanding medical devices manufacturing space. Following the completion of the deal, Meril will be backed by two prominent global investors – ADIA and Warburg Pincus, which had earlier invested in the company.
Founded by the Bilakhia Group, Meril is headquartered in Vapi, where it operates a 100-acre, vertically integrated MedTech campus powered entirely by green energy.
The company develops and manufactures a range of clinically advanced products including cardiovascular devices, structural heart solutions, surgical robotics, orthopaedic implants, in-vitro diagnostics, and endo-surgery technologies. By far, Meril has invested Rs 1,400 crore in its Vapi facility.
In Dec 2024, the company also inaugurated its new medical devices plant in Vapi.
Meril exports its products to over 150 countries through a network of more than 35 subsidiaries. The company employs over 13,000 people globally and operates 12 international training academies, where it trains more than 10,000 healthcare professionals annually. tnn
